Diamond Foundry Valuation, Funding & Investors

Diamond Foundry is valued at $1.8B as of March 2021.

Last Diamond Foundry valuation

$1.8B

Undisclosed stage · Mar 2021

Last Diamond Foundry funding round

$200M

Undisclosed stage · Mar 2021

Cumulative funding Diamond Foundry raised

$350M

across 3 funding rounds

Key investors in Diamond Foundry

  • Long Journey Ventures
  • Capricorn Investment Group
  • Vast Ventures
  • Invariantes Fund
  • Mindrock Capital
  • Fernando Pontaza

Diamond Foundry Overview

About Diamond Foundry

Diamond Foundry is a producer of lab-grown diamonds using chemical vapor deposition in zero-emission foundries located in the United States. It supplies gems for the VRAI jewelry line sold directly to consumers and semiconductor-grade materials for thermal management in electric vehicles, 5G networks, and AI data centers. Founded in 2017 and headquartered in Secaucus, New Jersey, the company scales production to match natural mining volumes without environmental impact.


Founded

2012

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2C & B2B

Revenue model

Product sales

Valuation

$1.8B (Mar 2021)

Diamond Foundry Valuation

Diamond Foundry is currently valued at $1.8B, based on its undisclosed-stage round in March 2021.

Diamond Foundry's valuation has grown 4.7x from $384M at its Series A in November 2015 to $1.8B in March 2021, across 3 priced rounds.

Diamond Foundry valuation by funding round

Diamond Foundry valuation by funding round
DateStageValuation
Mar 2021Undisclosed stage$1.8B
Oct 2018Series B$1.7B
Nov 2015Series A$384M

Diamond Foundry Funding History

Diamond Foundry has raised a total of $350M across 3 funding rounds.

Diamond Foundry's first fundraising round was a $50M Series A in November 2015. The most recent completed round was a $200M undisclosed-stage round in March 2021.

Diamond Foundry funding rounds

Diamond Foundry funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2021Undisclosed stage-$200M$1.8BDiamond Foundry, a producer of lab-grown diamonds for jewelry and semiconductor industries using zero-carbon footprint technology, raised $200 million in a Series C funding round in late March 2021, achieving a post-money valuation of $1.8 billion. The round was led by Fidelity Investments, with the funds allocated to scale production at its Washington state factory to 5 million carats annually by end of 2022, explore new factory sites in the US, Europe, and Middle East, and advance applications in jewelry via its Vrai brand (expanded to China and Europe), semiconductors, cloud computing, and electric vehicles. The company, founded by engineers from MIT, Stanford, and Princeton with prior solar technology experience, had raised a total of approximately $315-353 million across five rounds by that point. Investors include Leonardo DiCaprio, Evan Williams, Mark Pincus, Andrew McCollum, Jeff Skoll, Andy Bechtolsheim, and Tony Fadell. Diamond Foundry reported doubling production each of the prior four years and making a profit in 2020, selling rough lab-grown diamonds at an average of $282 per carat—higher than some natural stones. This funding positioned Diamond Foundry as a unicorn, with the round dated March 15, 29, or end of March 2021 across sources, emphasizing its ambition to reach mining-scale output of high-quality diamonds. The company operates from San Francisco with 501-1,000 employees as of later estimates, focusing on sustainable alternatives to mined diamonds.
Oct 2018Series BVast Ventures; Mindrock Capital; Fernando Pontaza; Invariantes Fund$100M$1.7BDiamond Foundry, founded in 2012 and headquartered in San Francisco, produces lab-grown diamonds using sustainable methods as an eco-friendly alternative to mined diamonds for jewelry (via its Vrai brand) and industrial uses. The company has raised a total of approximately $315-350 million across multiple rounds by 2021, with backers including Leonardo DiCaprio, Andy Bechtolsheim, and Tony Fadell. This funding aimed to scale production to 5 million carats annually by 2022-2023 at its Washington state factory and expand into new sites and applications in jewelry, semiconductors, cloud computing, and electric vehicles. Later developments focus on growth in production capacity, global expansion to China and Europe, and technological advancements in single-crystal diamond wafers for semiconductors.
Nov 2015Series AJean Pigozzi; Caspian VC Partners; Long Journey Ventures; Jeffrey S. Skoll; Andy Bechtolsheim; Andrew McCollum; David Spector; Capricorn Investment Group; Future Tech Lab; Mark Goldstein; Alison Pincus; Leonardo DiCaprio$50M$384MDiamond Foundry is a Silicon Valley startup specializing in producing lab-grown diamonds using a high-temperature plasma reactor process that grows pure, jewelry-grade diamonds on a thin slice of natural diamond seed, claiming identical molecular structure to mined diamonds without traditional synthetic imperfections. The company announced a breakthrough in 2015, enabling production of hundreds of diamonds up to nine carats in two weeks in an 8,000-degree Fahrenheit reactor. It supplies these diamonds to about 200 partnering jewelry designers via a marketplace, which at the time was its only revenue source, targeting the $30 billion diamond industry without aiming to flood the market significantly. In November 2015, Diamond Foundry raised a $50 million Series B round from investors including Caspian VC Partners, Future Tech Lab, Mark Pincus (and likely Alison Pincus), alongside others like Alison Pincus, Andrew McCollum, Andy Bechtolsheim, Capricorn Investment Group, Cyan Banister, David Spector, Jean Pigozzi, Jeffrey S. Skoll, Leonardo DiCaprio, and Mark Goldstein, at a post-money valuation of $383.65 million with a $5.00 price per share. This funding supported scaling production after two years of developing diamond-growing reactors. Later developments include a 2021 Series C raise of $200 million from Fidelity at $1.8 billion valuation to expand Washington state factory output to 5 million carats annually by end-2022 for jewelry (via Vrai brand, expanding to China/Europe) and semiconductors, with total funding reaching $315 million since 2012 launch. The company sells rough at ~$282 per carat, turned profitable in 2020, and explores applications in cloud computing and electric vehicles.

Who has invested in Diamond Foundry?

16 investors have backed Diamond Foundry across its funding rounds, including Long Journey Ventures, Capricorn Investment Group, Vast Ventures, Invariantes Fund, Mindrock Capital and Fernando Pontaza.


Diamond Foundry Investors

Investors in Diamond Foundry by funding rounds participated
InvestorHQRoundsRoleFirst check
Jean PigozziSwitzerlandGeneva1ParticipantNov 2015
Caspian VC PartnersCyprusLimassol1ParticipantNov 2015
Long Journey VenturesUnited StatesSan Francisco, CA1ParticipantNov 2015
Jeffrey S. SkollUnited StatesUnited States1ParticipantNov 2015
Andy BechtolsheimGermanyGermany1ParticipantNov 2015
Andrew McCollumUnited StatesUnited States1ParticipantNov 2015
Vast VenturesUnited StatesNew York City, NY1ParticipantOct 2018
Mindrock CapitalUnited StatesSan Francisco, CA1ParticipantOct 2018
Fernando PontazaGuatemalaGuatemala City1ParticipantOct 2018
David SpectorUnited StatesSan Francisco, CA1ParticipantNov 2015
Capricorn Investment GroupUnited StatesSan Francisco, CA1ParticipantNov 2015
Future Tech LabSwedenStockholm1ParticipantNov 2015
Invariantes FundGuatemalaGuatemala City1ParticipantOct 2018

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Diamond Foundry Competitors

Diamond Foundry competitors include listed companies like Xanadu, 5N Plus, Scientech and UMS Integration, and private ones like Substrate and Nanotech Energy.

Public and private companies comparable to Diamond Foundry
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
XanaduCanadaCanadaPublicly listed$3M($47M)$2.3B281.8x
SubstrateUnited StatesSan Francisco, CAPrivate--$1B-
Nanotech EnergyUnited StatesLos Angeles, CAPrivate--$550M-
5N PlusCanadaCanadaPublicly listed$391M$93M$1.6B3.7x
ScientechTaiwanTaiwanPublicly listed$357M$51M$1.8B4.1x
UMS IntegrationSingaporeSingaporePublicly listed$196M$59M$1.8B7.4x

Diamond Foundry Public Comps

Diamond Foundry is still privately-owned, but its public comps include Scientech, IQM Quantum Computers, UMS Integration, Hana Micron, Silex Microsystem, Henghui Technology Corp, PDF Solutions, Awinic Electronics, China National Gold Group and Both Engineering.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Scientech$357M$51M4.4x4.1x31.0x22.6x
IQM Quantum Computers$36M($48M)46.9x-(35.2x)-
UMS Integration$196M$59M9.1x7.4x30.3x22.6x
Hana Micron$1.1B$219M2.4x1.7x12.3x7.4x
Silex Microsystem$141M$49M12.3x-35.5x-
Henghui Technology Corp$138M$26M12.2x-65.0x-
PDF Solutions$219M$10M8.2x7.2x181.2x-
Awinic Electronics$426M$62M3.8x3.4x25.9x22.8x

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Common questions about Diamond Foundry

When was Diamond Foundry founded?Diamond Foundry was founded in 2012.
Where is Diamond Foundry headquartered?Diamond Foundry is headquartered in San Francisco, CA, United States.
Is Diamond Foundry publicly listed?No, Diamond Foundry is a private, VC-backed company.
What is Diamond Foundry's valuation?Diamond Foundry was last valued at $1.8B in its undisclosed-stage round in March 2021.
How much funding has Diamond Foundry raised?Diamond Foundry has raised $350M across 3 funding rounds.
What was Diamond Foundry's last funding round?Diamond Foundry's last funding round was a $200M undisclosed-stage round in March 2021.
Who are Diamond Foundry's investors?Diamond Foundry's investors include Jean Pigozzi, Caspian VC Partners, Long Journey Ventures, Jeffrey S. Skoll, Andy Bechtolsheim, Andrew McCollum, Vast Ventures, Mindrock Capital, Fernando Pontaza, David Spector and 6 others.
Which companies are comparable to Diamond Foundry?Companies comparable to Diamond Foundry include Xanadu, Substrate, Nanotech Energy, 5N Plus, Scientech and UMS Integration.

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